KARACHI: Hayat Regency building row be settled: Ibad
KARACHI, March 6: Governor Ishratul Ibad Khan who returned home Thursday morning after a four-day visit to London, presided over the first meeting of the provincial government’s Committee on Law and Consultation and decided to settle the issue of Hayat Regency building, which is lying abandoned since 1970s, as early as possible.
The meeting took the decision after acknowledging that the financial institutions involved had offered to waive off interest on their lending towards the project and agreed to restrict the recovery to the principal amount.
The meeting was informed that President Musharraf had also expressed his desire that the project be completed.
The governor was of the view that such a huge unfinished structure, abandoned for decades had been affecting not only the beauty of the city
but investment atmosphere as well. The odd-looking site, he said, did not leave a good impression on the citizens and foreigners.
The meeting decided to seek cooperation of banks, privatization commission and other concerned organizations for an early settlement of the disputes relating to the building.
The former provincial law minister, Justice (r) Abdul Qadir Halepoto, who is also chairman of the committee, Liaquat Merchant, Yousuf Maulvi, Qazi Khalid Advocate, Ahmed Pirzada, Moin Azhar Siddiqui and Law Secretary Syed Ghulam Nabi Shah attended the meeting.—PPI
